PETROKEMIJA Discuss Opportunity to Become a Member of Fertilizers Europe Association According to BAC Company Report

20 Apr 2012 • by Natalie Aster

LONDON – Recently Petrokemija d.d. received Jacob B. Hansen, general director of Fertilizers Europe. Fertilizers Europe is an association of mineral fertilizers producers headquartered in Brussels, which brings together such strong companies as Yara, Borealis, BASF, and others. The aim of the association is to improve production operations, address regulatory issues related to EU agricultural processing, and evaluate statistical data. Hansen arrived to discuss Petrokemija’s opportunity to become a member of Fertilizers Europe. The director toured Petrokemija’s factory and was satisfied with the operating environment. Any final decision, however, was not given.

Last year was financially successful for Petrokemija: revenue grew by 30.7% over 2010 and reached HRK 2.9 B, gross profit added 89.8% to its previous value and equaled HRK 515.6 M, both operating and net income covered financial loss of 2010 and amounted to HRK 138 M and HRK 106.5 M, respectively. The financial improvement was brought by increased export sales (plus 37.6% in 2011 against 2010). Last quarter of FY 2011, however, appeared to be slow: revenues of HRK 688.1 M, gross profit of HRK 76.2 M, operating income of (0.2) M, and net income of HRK (8.2) M.

Founded in 1968 and headquartered in Kutina (Croatia), Petrokemija d.d. engages in production of fertilizers, carbon black, clay-based products, cattle feed additives, as well as provision of plant maintenance services (which, however, do not generate significant revenues). Petrokemija went public in 1998 and registered at Zagreb Stock Exchange under the ticker PTKMRA.